Wall Street Sees Manipulation Backed by Skeptical Bulls
Stock traders note that markets remain driven by manipulation and sentiment rather than fundamentals as Union Pacific drifts from 151% to about 140% while the May corn option tightens and adverse weather jitters fuel bulls. Brokers expect limited real buying unless prices show sustained strength amid uncertain currency moves and a looming congressional bill.
MENTIONED IN THIS ARTICLE
Union Pacific
Chicago
Minneapolis
Wabash Directors to Meet Amid Pittsburg Terminal Reorganization
The Wabash Railroad directors in Pittsburg plan discussions on the terminal's finances as it faces $600,000 in interest due next Monday. The Pittsburg Terminal, built to give the Wabash access to a rich traffic area, has shown weak earnings and heavy debt, with bankruptcy risk amid steel trade downturn.
MENTIONED IN THIS ARTICLE
Wabash Railroad
Wabash Pittsburg Terminal Railroad
Wabash
Wabash Pittsburg
Pittsburg
Inter-State Commerce Commission
Wabash Pittsburg Terminal Company
Wheeling & Lake Erie
Pittsburg Terminal Company
Copper shares ease in quiet Boston market
Local copper stocks drifted lower and closed steadier than the day’s earlier trading in quiet sessions. The generalist market showed little movement with no notable features while outside activity remained subdued.
MENTIONED IN THIS ARTICLE
Boston
Outside. Com
Quiet Coffee Market With Limited U S Trade Activity
The market opened unchanged and closed quietly with a modest rise of six points. Havre and Hamburg held steady while Rio and Santos posted small gains. Receipts at Havre and Santos ports totaled about 15 000 bags, far down from last year. Sao Paulo districts faced cold weather and spot Rio No 7 remained steady.
MENTIONED IN THIS ARTICLE
Havre
Hamburg
Rio
Santos
Jundiahy
Sao Paulo
Siaobet Sewer
Memriaes Oca Seaitie
E'S
Eis
Niacin Godin
Aptil Cgaseeense
Foreign Market Report Sees Gains Amid Discount Expectation
London money is plentiful and in moderate demand as discounts ease. Gilt edged securities rise on expected Bank of England rate cut tomorrow. Kaffirs buoyant with local and Paris buyers while home rails benefit from calmer labor conditions. American securities unsettled due to Wall Street unloadings. Paris and Berlin trade open weak, closing firmer in Paris except French routes.
MENTIONED IN THIS ARTICLE
London
Stock Exchange
Bank of England
Paris
Wall Street
New York
Market dull in Baltimore as Seaboard and electric bonds ease
In Baltimore on May 27 the market remained dull with Seaboard 4s selling off and Baltimore Electric 53s easing slightly. Other prices held steady.
MENTIONED IN THIS ARTICLE
New York Times
Baltimore
Produce Exchange Stocks Report
The principal transaction reported yesterday in the stock department of the Produce Exchange showed sales with opening, high, low, and last prices for Branch Mint. The figures listed are .04 for open and last, with a minor variation noted as 04 .04%.
MENTIONED IN THIS ARTICLE
the Produce Exchange
London metal prices hold steady as copper and lead display mixed moves
Spot copper in London closed at 56 pounds 17 shillings 6 pence, unchanged from Tuesday. Futures slipped 2 shillings 6 pence to 57 pounds 10 shillings. Pig tin weakened to 278 pounds spot and 2 pounds 10 shillings futures, with nearby quotes at 128 pounds 58 and 127 pounds 2 shillings 64. Lead and spelter were steady, while Cleveland warrants remained at 50 shillings. New York Metal Exchange spot deliveries showed mixed bid and ask shifts across copper, tin, lead, and zinc from the prior day.
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New York Times
Philadelphia
Reading
United States Steel
Lehigh Valley
Cambria Steel Lehigh Navigation Trust
Mount
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Cacseecss
Cesees
Mayor
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Ces
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Cee & I
Elec. Co
Lake Superior Corp
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Lehigh
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Aly
Fhila Electric
Ay, S. Steel
Steel Pr
London
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Lake
Veseses
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Tin
Caseveen
Treasury Opens With Mixed Balance After Morning Business
Washington reports the Treasury opening the day with a mixed balance as of the first business hours. Details show cash in vaults and outstanding liabilities affecting the daily financial posture.
Banker James Stillman Sails Home From Europe
James Stillman president of National City Bank, one of Wall Street leaders who had spent strenuous months in the financial district, sailed yesterday from Cherbourg on the Kronprinzessin Cecilie for home.
MENTIONED IN THIS ARTICLE
James Stillman
National City Bank
Wall Street
Europe
Financial District
Kronprinzessin Cecilie
Cherbourg
Directors elected for Windsor Trust Company
The Windsor Trust Company directors elected August Heckecher and August D Belmont Jr to succeed resigning Andrew Freedman and August Belmont. J P Morgan Co trust receipts for Chicago Burlington Quincy general mortgage bonds admitted to quotation on the Stock Exchange unlisted department. William Salomon Co says they sold the entire issue of 2 556 000 Chicago and Eastern Illinois equipment trust notes at yields to longer maturities. Massachusetts board authorizes Boston and Albany to issue 7 million twenty five year 4 percent bonds for permanent improvements. Spencer Prask Co issues eleventh edition of Short Term Notes and Collateral Trust Bonds circular. Redmond Co and Equitable Trust announce Tidewater 17 million per cent notes oversubscribed as subscriptions closed.
MENTIONED IN THIS ARTICLE
Windsor Trust Company
August Heckecher
August D Belmont, Jr
Andrew Freedman
August Belmont
J. P. Morgan & Co
Chicago
Lurlington & Quincy
the Stock Exchange
William Salomon & Co
Chicago & Eastern Illinois’ Equipment Trust
Massachusetts State Board of Railroad Commissioners
Boston & Albany Railroad Company
Spencer Prask & Co
Redmond & Co
Equitable Trust Company
Tidewater
Mexican merger operative extends deposit deadline
Bankers announced the Mexican Central Railway Company and the National Railroad Company of Mexico merger plan is operative after a large majority of securities were deposited. The deadline for deposits is extended to June 6, with deposits then accepted only at Central Trust Company of New York Kidder Peabody New York and Mercantile Trust Company New York for respective securities.
MENTIONED IN THIS ARTICLE
Mexican Central Railway Company, Limited
National Railroad Company of Mexico
Mexican Central Railway Company
Central Trust Company of
New York
Kidder, Peabody & Co
Boston
National Lentiresy Company
Mecantile Trust Company of
Wall Street
Devonshire Street
Mercantile Trust Company
Broadway
Houston & Texas Central Railroad Company
New York City
Rouston & Texas Central Railroad Company
R. &. Lovett
Cotton Exchange Opposes Regular Officer Ticket
An opposition slate forms against the Cotton Exchange officers. George Brennecke heads the new ticket with Arthur R. Marsh as vice president and J. F. Maury as treasurer. The list features L. S. Bache E. K. Cone R. S. Gernon J. E. G. Higgins George F. Jones L. Mandelbaum William S. Ray and others. The group claims no policy shift, but contrasts older members with the regular young-leaning ticket.
MENTIONED IN THIS ARTICLE
Cotton Exchange
George Brennecke
Exchange
Arthur R. Marsh
J. F. Maury
L. S. Bache
E. K K. Cone
R. S. Gernon
J. E. G., Higgins
George F. Jones
L. Mandelbaum
William S. Ray
Robert Cairns
Marshall Geer
J. T. Gwathmey
Thomas E. Hicks
Charles I. Long
William Mohr
R. Sidenburg
Court approves merger of Brooklyn banks in Supreme Court
In Kingston New York May 27 Judge Betts granted an order authorizing the consolidation of the International Trust Company of Brooklyn and the Brooklyn Bank of Brooklyn. The Brooklyn Bank may resume business after receivership discharge and may transfer assets to complete the merger. Directors and officers may meet to adopt consolidation resolutions and a loan contract to pay depositors and creditors is permitted. There was no opposition to the plan.
MENTIONED IN THIS ARTICLE
Kingston, N
International Trust Company of Brooklyn
Brooklyn Bank
Brooklyn
Charles M. Higgins
Bruyn Hasbrouck
Union Pacific Sells Holdings in Great Northern and Northern Pacific
Wall Street reports say Union Pacific has nearly sold its remaining holdings in the Hill properties. The last annual report shows vast investments in Great Northern stock and Northern Pacific stock, plus ore certificates and Northern Securities stubs.
MENTIONED IN THIS ARTICLE
Union Pacific
Great Northern
Northern Pacific
Wall Street
The
Northern Securities
Royal Dutch West India Mail declares 8 percent dividend
The Royal Dutch West India Mail Company, sailing to this port, raises capital from 800000 to 2000000 and reveals an eight ship fleet earned a gross profit of 186582 with a net profit of 00000 for the year. It has built four new steamers for fruit carrying trade.
MENTIONED IN THIS ARTICLE
Royal Dutch West India Mail Company
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